Changan Auto plans to build a vehicle plant with a total investment value of CNY8.5bn (US$1.25bn) in southern China, the China Business News reported on Thursday.
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Changan will use its joint venture between listed Chongqing Changan Automobile and PSA Peugeot Citroen to produce 200,000 vehicles per year in Shenzhen, the newspaper said, citing the company, according to Reuters. Changan has set a sales goal of 3m units by 2015 and 5m by 2020, the reports added.
